Global Events: Industry, Factors, and Impact Evaluation Report

This report provides a comprehensive analysis of the global events industry, examining its structure, organization, and the diverse types of events within it, such as mega, regional, and major events. It delves into the factors that have significantly influenced the industry's development at a global level, including economic contributions and the motivations behind different event types. The report evaluates the various factors affecting the structure, organization, and development of global events, along with the techniques used to shape the industry and its role in society. Furthermore, it assesses the value, impacts, and legacy of global events, with a specific focus on the Summer Olympics London 2012, and reviews the management strategies employed to support event development. The report also explores the impacts of global events and strategies for responsible event development, concluding with a discussion on the industry's future.

GLOBAL EVENTS
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Table of Contents
INTRODUCTION...........................................................................................................................3
Evaluation of the diversity of global events industry, its structure and organisation along with
the role of different types of events........................................................................................3
P2 Factors that have influenced the development of the event industry at a global level......5
Evaluation related to different factors affecting structure organisation and development of
global events...........................................................................................................................6
Using the critical evaluation of techniques which show the key factors that have determine
and shaped the events industry and the role they play in society...........................................6
Evaluation of value, impacts and legacy of a range of global events along with environment
in which they are operating....................................................................................................7
Reviewing management strategies that are used to support global events development.......8
Evaluating management strategies in the events industry along with ways to develop them
globally...................................................................................................................................9
Assessing impacts of global events and strategies to support responsible events development
now and into the future...........................................................................................................9
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
Global events refers to those event which is held for limited period time under which the
reach of the event are global. Global events is related to those events under which the presence of
countries are more no single. The main aim of these type of events is that it requires to grab the
attraction of different types of people for promotion of tourism and other aspect of country.
There are large number of global events are held in market and examples of them are Olympics,
ICC cricket tournaments and many more. These events are held in world for promotion of
different types of sports activities which ultimately promotes the tourism and culture of the host
country. The present report is based on global event names Summer Olympic London 2012 for
promotion of sports. There are large number of sports activities are involved in this events under
which the players from all over the world represents their country. The present event creates
large number of opportunities not only for the host country but also for the other countries. The
report evaluates the diversity of the market industry at a global level and explains the factors that
have influenced the overall development of the events industry. Management strategies that are
used to support event development are also reviewed with an explanation of the positive and
negative impacts of the macro environment on the global event industry.
MAIN BODY
Evaluation of the diversity of global events industry, its structure and organisation along with the
role of different types of events
The aspect of diversity plays important role under success of global events because of
involvement of multiple nations. There are different types of players and spectators are involved
under these events which increases importance of diversity. The diversity aspect of these events
are helpful for making events more effective and provide maximum returns (Akhtar, 2020).
A) Contribution of events towards economy
The contribution of the global events for development and promotion of economy are very wide
because it provides many benefits to different factors of economy. There are different types of
income sources are developed by these events which becomes effective for economic
development. The biggest source of income comes from spectators because of their huge
involvement. The preference of public are increased by huge number which becomes positive for
revenue generation. It is analysed from many studies that it the global event industry of UK are
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very high which provide huge amount of employment in market and the preference of customers
are also increases (Apaydın and Ocakoğlu, 2020).
The best contribution of global events for economy deals with the tourism aspect of
organisation under which huge hike in tourist are reflected in market. At the time of summer
Olympics, the players of many countries takes parts and the citizens of their nation comes to join
them. The number of tourists visited in country are increased by huge number which becomes
positive for revenue generations for both small and big size business.
B) Different types of events with example
The nation which host the global event spend huge amount of funds under the
development of activities of global events for attraction of large number of peoples. There are
different types of events are present which is differentiated on basis of venue, size, budget and
the brief discussion related to the same are given below:
By size
 Mega events – It is related to those event which targets different types of international
markets. There are different types of mega events are present such Olympic Games,
World Cup under which the different types of nations taking part. The media coverage of
these type of events are very high due to their high preference and media involvements.
The telecast of these type of events are made worldwide which generates huge revenue.
 Regional events – It is generally refers to those events under which the aim of organisers
is the promotion of tourism for any particular region. The common examples of these
events are different types of Music events which is held once in year. Dubai Shopping
Festival, Tomato Festival are the regional events which is held for attraction of people
towards tourism (Bauer, Rooney and Lepland, 2020).
 Major events – The aim of these type of events is the attraction of local peoples for
generation of revenue. The examples for the same are Lantern Festivals Chinese New
Year Dragon Boat races
By content
 Charitable events – It refers to those events which is held for purpose of different types
of charity and support for generating the income for donations. There are different types
of natural disasters are held due to which funds are collected for cause are came under
this project.
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 Business conferences – It refers to those events which is organised by business
organisations for meeting of company stakeholders. The employees of organisation are
the members of these events such as general meeting of organisation.
C) How are events structured and organised by the event management team
The organisation of the events are not the easy task for any parties because different types
of ideas, planning, and many more should be decided. The are large number of decision are taken
by these organisers in relation to location, sponsors, marketing and many more. It is important
for organisers of the events to have effective approach so that all stages of Olympics can be
completed in effective manner (Bush 2022).
D) Role of events in the society
 One of the important role of events is the promotion of culture of many countries and
takes them together which increases effective network.
 The tourism of the particular area are increased by the huge number which makes easy
for welfare of society.
Factors that have influenced the development of the event industry at a global level
The scope of event industry is very high which provides many significant advantages to
different aspect of country. The biggest role played by global events are on the economic aspect
of country. There are different types of factors are present which impacts global events and the
brief discussion related to the same are given below:
 The growth and emergence of the events industry – The worth of event industry is
very wide which is around £42.3 with people which provide generation of revenue of
about £65,943 every year. United Kingdom is regarded as the hub for different types of
events and sports activities which witnesses different types of events such as business
conferences, cultural events etc. The growth of the industry under UK market are very
high which reflects around 65% growth in upcoming years (Grundke and Tuchscherer,
2019).
 The value and contribution of events to the global economy – The global events are
not held for any single nation but their scope covers different types countries. There is not
only single function of revenue generation made by them but also provide effective
increment in tourism of country. The event industry of UK provides revenue generation
of about £39.1 in year of 2013 which is great contribution towards the economy.
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 Demand and motivations for different types of events – The number of events host by
country are very high such as social events, business events, trade shows, conferences
etc. The brief discussion related to these events are given below:
◦ Social Events: It is related to those event of market which is held for the attraction of
the people towards different types of social activities. The organisers of these events
shared cultures of different types of cultures and provides them in attractive manner.
The aim of the host country behind these type of events is that it helps to promotes
the social activities and prefer to use different types of measures,
◦ Business Events: There are large number of business events and conferences are helps
in country under which different business officials takes part. These events are
generally happened for group members of company (Hao and Singh, 2020).
Evaluation related to different factors affecting structure organisation and development of global
events
There are large number of factors and measures are present which influence the global
events and their development. It is very important to analyse these factors because it provides
chances for improvement and also provide opportunity for growth. The policies of government
and the economic aspect are the biggest factor which influence the working of the global events.
It is important for host country to make huge investment in their events so that maximum returns
can be achieved. The technological aspect plays important role for attraction of people towards
the event.
Using the critical evaluation of techniques which show the key factors that have determine and
shaped the events industry and the role they play in society
There are different types of factors are present which influence and shape the global
events for managing the aspect of society. The benefit of strategic security management is that it
helps enhance safety of the event while the disadvantage is that it increases liability of the event
organizer. The advantage of waste management is that it reduces negative environmental of
mega events such as Summer Olympic the disadvantage is that it further complicates event
management process of such large scale events (Ikuta, Sek and Shoji, 2022).
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Evaluation of value, impacts and legacy of a range of global events along with environment in
which they are operating
There are various business organisations that conduct different events in societies. These
events may also have impact of their activities on the environment (Ruj and Kawai, 2021). They
have to manage different resources and policies for conducting such events. Summer Olympics
and London Fashion week was organised in London, United Kingdom for the purpose of
inspiring generation. It also influences trade in UK by attracting people towards the country.
These events also have impact, value and legacy in the environment which is described below as:
Events Value Impact Legacy
Summer
Olympic
Events in country
always provide value
to business
environment. As it
helps to boost
economy from
various factors.
Summer Olympics
also provides value
to environment of
business in which
they are operating. It
influences money
supply and demand
in the country.
Summer Olympics impact
political environment as it
can attract lots of people
from different countries.
Tourism industry is very
essential part for every
economy and Summer
Olympics also impacts
tourism in United
Kingdom. It influence
tourism by attracting
people towards event but
there is also fear of losing
reputation in economy.
Events organised in London
provide legacy to the country
as it helps to boost up their
economy faster. Summer
Olympics attracts large
number of people from
different communities and it
can help them to influence
money supply which can
decrease poverty rate in UK.
It is long term benefit for the
country hence it can be
considered as legacy.
Business organisations can
also take benefits of these
legacy in the environment in
which they operates.
London
Fashion
Week
London Fashion
week also influence
value to economy of
London and their
Events arranged by
business organisations can
also impact economy of
the country. In context to
London Fashion Week also
provides legacy to United
Kingdom as it also helps to
influence behaviour of people
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businesses are
developing faster. It
has much
contribution in
providing wealth to
business organisation
of UK. It also attracts
lots of people
towards event.
London Fashion Week,
UK had earned huge
amount of foreign
currency which is positive
point for economy.
Whereas negative impact
of new entrants capturing
market are also faced by
them.
existing in various economies
to join event. It can improve
the global image of
community in different
minds. Organisations can also
increase their supply through
achievement of this legacy by
the country in which they are
operating.
Reviewing management strategies that are used to support global events development
Management strategies are combination of various plans and policies made by
management to achieve organisational objectives. In relation with global events development,
management also framed different strategies that helps to improve effectiveness. For influencing
global development, some management strategies are mentioned below as:
Event Planning: It is a concept defined as deciding in advance what to do, how to do and
from whom work is to be done. In context to event, management use planning to set in advance
about plans and policies that can help them to perform activities of events in future. Planning is
wholly based on futuristic aspect as it is done on the basis of activities relating to future.
Management team set goals and policies to conduct global event and they also add various plans
to make it more efficient and memorable (Sturm, 2018). Global event is organised by different
organisations and they have to make unique planning department to enhance presentation and
make it more impressive.
Controlling: It is a kind of management strategies in which team members used different
tools and techniques to monitor and check performance of ongoing event. It can help them in
taking corrective measures to support different outcomes that have negative impact on organising
global events. Management perform controlling to improve accuracy and correctiveness of their
plans and actions that support event. They can use tools like performance indicators and
benchmark to evaluate outcomes of their planning. Management also evaluate various negative
factors that are required to be treated for being efficient in conducting global event. It also
reveals good impression to people coming for the purpose of joining event in United Kingdom.
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Advertising: Advertising is a way to promote of influence different communities towards
specific activity or thing. It can be of different types and to be chosen according to preference of
project. In context to event management, many business use advertising strategies to influence
people in different economies for joining. It also helps to attract lots of people from another
economy. Global event can become more crowded through advertising strategies and it also
provide information about happening events (Yu, Zhai and Chen, 2018). In United Kingdom,
management of global event have various channels for advertising their event like newspapers,
magazines, television and billboard charts.
Evaluating management strategies in the events industry along with ways to develop them
globally
Management strategies are basic management plans which helps to provide efficiency
and effectiveness in their work. These are most essential part in global events conducted by
various organisations in the country. It also influences quality of work and presentation for
events in international market. Developing these events globally requires management strategies
most and it also attracts people from different economies that enables whole country's
development. Organisation used strategies like planning in advance, controlling negative
outcomes and advertising global event to improve as well as develop their activities of
conducting event.
Assessing impacts of global events and strategies to support responsible events development now
and into the future
Global events have various impacts of different factors available in the environment of
organisation in which they operate. Development of global event also requires different
management strategies to be implemented for influencing effectiveness. Impact on global event
can be positive as well as negative, it is wholly dependent on factor through which it is arising.
Using management strategies can reduce outcomes of negative impact in global events. It can
reduce risk on future as well as present basis in business environment.
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CONCLUSION
It is concluded from this report that happening of global events is very important for
development and promotion of economy. This report concludes different types of events on basis
is size which are held in market and provides effective returns to the economy. The report
concludes the diversity of the market industry at a global level and explains the factors that have
influenced the overall development of the events industry. Management strategies that are used
to support event development are also concluded with an explanation of the positive and negative
impacts of the macro environment on the global event industry.
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REFERENCES
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